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USDCAD - Reaction to nonfarm payrolls set to continue
A big winner from Friday’s volatile US trading session was the Canadian dollar according to Thomas Light from Faraday Research who outlines his trade: "USDCAD’s daily candle chart shows that the market is starting to top out around the 61.8% Fibonacci retracement of the March to May sell-off. Friday's price action formed a bearish engulfing candle. This came on the back of the OPEC oil conference, US nonfarm payrolls and Canadian employment data -increasing the significance of the engulfing pattern."
00:58 minutes
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